Fintech-Focused SPAC To Take 2 Firms Public Via Merger
Fintech Ecosystem Development Corp. announced a multi-layered acquisition on Monday in which it will purchase an overseas lender while its subsidiary merges with another fintech-oriented business, taking the combined entity public under guidance from two law firms. Under the agreements, Fintech Ecosystem will acquire Mobitech International LLC, which runs an artificial-intelligence-based lending platform in India under the name Afinoz, while a Fintech Ecosystem subsidiary merges with Florida-based money transfer firm Rana Financial Inc.
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